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Brokerage
Posted: August 16, 2016
G.S. Wilcox & Co. closes $19.5 million with Kansas City Life Insurance Co.
Morristown, NJ G.S. Wilcox & Co. secured financing in the amount of $19.5 million, arranged by Gretchen Wilcox, president, and Al Raymond, principal of G.S. Wilcox & Co.
One loan for $13.5 million with a fixed 2.85% interest rate for 5 years with a 30 year amortization was secured by a 202,148 s/f warehouse building located in Secaucus. The second loan of $6 million was placed on a 100,626 s/f industrial building in Whippany. This loan has a 3% interest rate fixed for 7 years with a 30 year amortization. Both loans were placed with Kansas City Life Insurance Company.
G. S. Wilcox & Co. has established a new relationship with Kansas City Life Insurance Company. Their decision to increase their involvement in this market was due in large part to the strong New Jersey industrial market, as well as, G. S. Wilcox & Co.’s in depth knowledge of the current market and its trends.
G.S. Wilcox & Co., located in Morristown, NJ, is a full service mortgage banking firm which originates, underwrites, and services commercial real estate mortgage loans. Founded in 1994, they have been servicing clients for over 22 years.
Kansas City Life Insurance Company (OTCQX: KCLI) was established in 1895 and is based in Kansas City, Missouri. The Company’s primary business is providing financial protection through the sale of life insurance and annuities. The Company operates in 49 states and the District of Columbia. For more information, please visit www.kclife.com.
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